I am an Indian student on my F1 visa doing my OPT. My income was 6766 and my federal tax withheld was 549.11 . How much do I expect in return, or do I have to pay? Do I enter any amount as a standard deduction?

You will get back your federal tax withheld. As per tax treaty you get standard deduction instead of itemized deduction. Your U.S. Tax Return: U.S. Tax Filing Requirements for Non-Residents (http://taxipay.blogspot.com/2008/03/us-tax-filing-requirements-for-non.html)

But how is that possible because it seems that I had to pay more than what was withheld?

Your exemption $3,650
Your itemized deduction $5700.
So you do not have any taxable income. You will get federal tax withheld back.

Thank you so much for your prompt reply. I was completely lost. I have one last question will I enter 5700 on line 6 and line 11 or only line 6 or line 11?

Also can I claim both. I thought you can only claim for one exemption

As per tax treaty, student from India can claim standard deduction in place of itemized deduction.